This is the handling of a transaction for the refinancing of a loan on a property. The settlement fees include the drafting of the closing paperwork, escrow and handling of closing funds, and recording of closing documents. Our closings can be conducted entirely virtually using video conferencing.
Frequently Asked Questions
On a re-financing, the closing fees are paid entirely by the borrower and may be rolled into the new loan depending on the lender’s policies.
The settlement fees are not due until the time of closing and will be deducted from any funds received from the buyer prior to disbursement of the proceeds to the seller. The fees, including any charges owed to third parties, will be listed on the settlement statements to be signed at the time of closing.
Now we are proud to offer fully virtual closings that can be conducted via video conference and/or e-signature. Some of the advantages to virtual closings include the ability to avoid the drive to the closing office and the flexibility to log on for your closing anytime within the closing period (generally 24 hours or more) to sign or notarize your documents. Additionally, closing funds can be wired or deposited at any US Bank location for your convenience.
The drafting of the purchase contract and/or loan documents is not a part of the standard closing services. That being said, our law firm is happy to assist with these services for an additional fee. The legal fees for document drafting are due at prior to service being performed and can not be paid at closing at this time.
* Please note that these services are currently only available in the greater Kansas city area. Most of our other services are available throughout Kansas and Missouri and we are looking to example our listing services into new markets in the future.